Reasons to invest in a
Smart City in Mauritius
The Smart City Scheme has been launched by the Government of Mauritius in 2015 with the aim to establish new, intelligent urban ecosystems across Mauritius in the form of mixed-use developments with office, business, residential and leisure components.
The core pillars
of the scheme are
of the scheme are
Innovation
Sustainability
Efficiency
Quality of life
To date, Moka Smart City is
the most advanced development
of this type in Mauritius
the most advanced development
of this type in Mauritius
The Smart City Scheme
Incentives for developers and investors under the
Smart City Scheme
Smart City Scheme
A company investing in the development of a smart city
and/or its components is exempted from payment of:
and/or its components is exempted from payment of:
- Income Tax for a period of 8 years from the date of issue of the SCS Certificate provided that the income is derived from an activity pertaining to the development and sale, rental or management of immovable property other than an activity in respect of the supply of goods and services
- Value Added Tax paid on capital goods (building, structure, plant, machinery or equipment)
- Customs duty on import or purchase of any dutiable goods, other than furniture, to be used in infrastructure work and construction of building within the Scheme
- Land Transfer Tax and Registration Duty on transfer of land to a Special Purpose Vehicle (SPV) provided that the transferor holds shares in the SPV equivalent to at least the value of the land transferred
- Land Conversion Tax in respect of the land area earmarked for the development of non-residential components (office and business parks, ICT and innovation clusters, tourism, leisure and entertainment facilities including hotels and golf courses, renewable energy and green initiatives)
- Morcellement Tax for the subdivision of land
Mauritian Citizenship
A non-citizen having held a residence permit for a minimum period of 2 years and having invested in excess of USD 5 million in the country may apply for Mauritian citizenship
Other tax incentives for buyers:
- First-time Mauritian buyers and those purchasing a residential unit under the Mauritian Diaspora Scheme will be exempted from Registration Duty
- Full recovery of VAT in terms of input tax allowable on capital goods (building structure), plant, machinery and equipment
- Accelerated annual allowance granted at a rate of 50% of the costs in respect of capital expenditure incurred by any company operating within the Smart City Scheme on energy-efficient equipment and green technology
Incentives for developers and investors under the
Smart City Scheme
Smart City Scheme
A smart city will be developed over an area exceeding 21.105 hectares (50 arpents). Foreign companies may acquire land under the Smart City Scheme to develop projects and their key components.
Residency
- Any person or entity including foreign companies and trusts may acquire residential units in a smart city
- Any non-citizen acquiring a residential unit above USD 375,000 under the scheme is eligible to a residence permit for himself and his family
- No restriction is imposed on the rental or resale of residential units
- A retired person is entitled to acquire life rights under the scheme
Sale of serviced land to third-party developers
The master developer may sell serviced land to another company to develop a component of a smart city project.
Source : EDB
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